The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1887-06-15
THE WORLDS SILVER,
Tie Circulation of which the National
Banks Are Trying to Deprive Us.

The Circulation of which the National
Banks Are Trying To Deprive Us.
The Director of the United States
Mint estimates the coined silver circula-
ton of the world at So, 100000. More
than half the human family have no
other money! The annual silver pro-
duction of the world is $117, 100000, of
which 500, 500, 900 is converted into coin,
the balance is used in the arts. The sill
yer products of this country is about
S., 100000 are converted into articles of
utility and ornament.
1t is estimated that about one-twenti-
eth of the silver coin is annually lost by
abrasion, wear and casualties; an amount
in excess of the annual addition by coin
age. The world is not likely, therefore,
to be deluged with silver. The United
States produces S5O,OOO,OOO of the S117,-
600, 900 of silver, of which one-half we
convert into coin.
What grand harvest our National
bankers would have if the coinage of
silver was suspended and they were al.
lowed to substitute their debts to fill the
vacuum! 1t is said that the Sub-Treas,
urer at New York is an enthusiastic adj
voCate of the scheme to transfer the sill
yer bullion market from London to New
York by dealing in it as other commodi-
ties, ard making bullion certificates the
basis of financial speculation. OF course
by the suspension Of silver coinage the
speedy demonetization Of the metal
would soon follow. We denounce the
conspiracy of capitalists to drive silver
money from circulation as a high crime.
Ours is the principal silver-producing
country of the world, and its chief val.
ue consists in its being converted into
coin, yet bankers and money-lenders are
intent upon destroying this great source
of wealth and instrument of exchange.
To secure the cooperation of those en-
gagged in agriculture these conspirators
refer to the fact that the price of wheat
is regulated by the bullion value of silver.
That as silver declines in price, wheat
declines in corresponding ratio. If this
is true, what will be the effect upon the
wheat market if silver is dcmonetized
and this metal is left to the bulls and
bears to deal in as in other commodities?
Of course its price will be merely nomi-
nal, gold being the only standard,
Why are our granaries filled with
wheat, commanding a price less than the
cost of production? Why have we no
foreign market for our cereals England,
once large buyer, gets her supply now
from India. Silver is the only money in
India. England buys up our silver bull
lion at 20 per cent in gold, coins it into
the money of India and pays it out at 100
per cent for wheat. This is the reason
why the American wheat rises or falls
with the bullion price of silver. If silver
was demonetized, its coinage suspended
and bullion certificates left to the tender
mercy of bankers, with EX-Secretary
MANNING as their chief, the price of
American wheat would be still less in a
foreign market unless silver is demone-
tized in India, which is not likely to &C.
cur.
On the other hand, If our Government
would establish the unlimited coinage of
silver England would have to pay par
value for our bullion, and pay par value
for grain in India, which would enable
our farmers TO compete with India in the
wheat markets Of Europe, II Is then
clearly TO theinterests Of American farm
eFs that silver should be appreciated Ia
price relatively to gold, which can only
be done by is unlimited coinage,
We admire the cunning and shrewd
ness Of England's knaneiering, shC
makes gold the only standard, renders